Sempra Signs 20-Year LNG Deal With Petrobras for Port Arthur Phase 2

M&A · PartnershipEarningsCommodity Impact 4
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Sempra Infrastructure, a subsidiary of Sempra, signed a 20-year agreement on September 14 to sell roughly 0.8 million tonnes of liquefied natural gas a year to Petrobras, the first time a South American company has signed on as an LNG customer. The volumes will flow from Port Arthur LNG Phase 2, a Texas project that reached a positive final investment decision in September 2025 and is expected to bring its two liquefaction trains online in 2030 and 2031, adding about 13 million tonnes of capacity and nearly doubling the total Port Arthur facility to roughly 26 million tonnes a year. Sempra's second-quarter 2026 GAAP earnings jumped to $1.21 per diluted share from $0.71 a year earlier, while adjusted earnings rose to $1.16 from $0.89, and management raised full-year GAAP EPS guidance to a range of $5.02 to $5.55 while keeping its 7% to 9% long-term earnings growth target intact. In Texas, ERCOT set an all-time peak load of 91 gigawatts in July and regulators have endorsed more than $7 billion of new transmission spending to support 16 gigawatts of that growth, with a newly approved interconnection process called Batch Zero potentially making roughly 44 gigawatts of large-load requests eligible for service. Sempra's five-year capital plan calls for roughly $65 billion of spending, backed partly by asset sales including a deal to sell 45% of Sempra Infrastructure Partners to KKR affiliates and a separate sale of its Ecogas México unit, both still working through final approvals.

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Ecogas México, S. de R.L. de C.V.Private± Mixed
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